• ADVERTISE
  • SUBSCRIBE
  • EVENTS CALENDAR
  • MAGAZINE ARCHIVE
  • CONTACT US
  • MEET THE TEAM

FOLLOW US

Menu
Concrete Trends
The voice of the industry
    Search
    • Home
    • News
    • Videos
    • Projects
    • Products
    • MAGAZINE
    • Events
      • Digital Content
    • About Us
    CT-Badge-23-years
    Close Menu

    BILLIONAIRE DANGOTE PLANS BIG GROWTH IN AFRICAN CEMENT CAPACITY

    Oct 1,2019
    Billionaire Dangote

    Aliko Dangote, the richest person in Africa, is looking to expand cement capacity on the continent by 29% to 62 million tons, entrenching his flagship company’s position as the continent’s biggest producer.

    He plans to add six million tons in Nigeria next year, taking volume in Dangote Cement Plc’s home market to 35 million tons, he told Bloomberg Television. The rest of the expansion is planned mainly in West Africa, including Niger and Cote d’Ivoire.

    Dangote told shareholders in June the company plans to open plants in Nigeria that will allow it export clinker to grinding plants in Cameroon and West Africa.

    Dangote, who is building one of the world’s biggest refineries in Lagos, Nigeria’s commercial capital, in addition to investments in gas and petrochemical plants, said he expects total group revenue to grow to about $30 billion from $4 billion when the plants start operations in the next 2 years.

    Thereafter, plans include investing about 60% of profit outside Africa, including the U.S. and the U.K. “Sometimes in Africa you have issues of devaluation,” he said. “We want to really preserve some of the family’s wealth.”

    Dangote Cement reported 6% increase in profit for the six months through June to 119.5 billion naira ($331 million), even as revenue fell 3% to 467.7 billion naira.

    The stock climbed 0.5% to 151.50 naira at the close in Lagos, the most since Aug. 22. Dangote shares are down 20% this year compared to a 12% decline by the 156-member Nigerian Stock Exchange Main Board Index.https://www.bloomberg.com/news/articles/2019-09-30/billionaire-dangote-plans-29-growth-in-african-cement-capacity

    » THE MIDDLE EAST CONSTRUCTION INDUSTRY CONSIDERED ONE OF THE TOP LOCATIONS TO INVEST, ACCORDING TO GROUND-BREAKING NEW REPORT
    CLICK TO ENQUIRE

    CLICK TO ENQUIRE

    CLICK HERE
    BILLIONAIRE DANGOTE PLANS BIG GROWTH IN AFRICAN CEMENT CAPACITY
    BILLIONAIRE DANGOTE PLANS BIG GROWTH IN AFRICAN CEMENT CAPACITY
    SUCOOT SCAFFOLD AND FORMWORK banner
    Alusani April2019
    Tags

    Tags

    africa africanconstructionexpo afrisam architecture building buildings business cape town cement cement and concrete producers China Concrete ConcreteTrends Concrete Trends concretetv construction construction projects contractors and construction dangote development economy energy engineering ethiopia gauteng Ghana green housing infrastructure investment kenya lafarge Nigeria power plant ppc ppc cement project Projects road construction roads south africa Tanzania totallyconcrete transport zimbabwe
    FIND US ON FACEBOOK

    JOIN THE CONVERSATION

    Tweets by Concrete Trends

    Back To Top
    • Home
    • News
    • Projects
    • Products
    • Events
      • Digital Content
    • Concrete Trends
    • Business Directory
    • Subscribe
    • Advertise here
    • Videos
    abc audit logo
      DOWNLOAD THE LATEST ISSUE OF CONCRETE TRENDS
      © Concrete Trends 2019. All Rights Reserved.
      BILLIONAIRE DANGOTE PLANS BIG GROWTH IN AFRICAN CEMENT CAPACITY

      ABOUT US | CAREERS | PRIVACY POLICY | CONTACT US

      Member of           

      dmg events is an organiser of face-to-face events and a publisher of trade magazines for the international Construction, Energy, Coatings, Transport, Hospitality & Design industries.